In Service Management, it’s the impact that makes all the difference

By Greg Pritchett, Managing Director, Marval

The million-dollar question: Why is Service Management important?

It’s a question I’ve lately been asking many business associates, partners and friends from our industry, and the responses I am getting are often focused on the (several and significant, of course) operational benefits good Service Management provides: managing requests faster, better and more cost effectively for example, or improving customer communication and satisfaction.

And it’s true, efficient Service Management does bear all these benefits, and the customer who experienced a prompt and immaculate service is a happy customer. But great Service Management goes beyond the traditional circumference of operational benefits, down to the backbone of the business and it can affect, positively or negatively, its sustainability and success.

I will document my thesis with facts. According to a Bain & Co. report, customers are 4 times more likely to buy from a competitor if a problem is service related, versus price or product related. 89% of consumers have stopped doing business with a company after experiencing poor customer service (RightNow Customer Experience Impact Report). Just a 10% increase in customer retention levels results in a 30% increase in the value of the company – Bain & Co. again. Surveys, reports, industry analysts and the customers’ feedback lead to the same conclusion. It is clear that good customer service is not just about operations – at least not anymore. It’s about the business. The way service is delivered and managed impacts the whole of an enterprise and can bear a long-lasting effect to sales, brand reputation, customer retention and loyalty, and the value of the business itself.

That’s why Service Management is not “just” about customer service anymore, but an enterprise-wide operation that should concern everyone within the organization.

At Marval we don’t see technology as technology per se. We never did! We see technology for the change it can bring to people’s lives, and we want this change to be positive, disruptive and catalytic. Our solutions are designed to help Service Management professionals nurture fruitful customer relationships, foster the right culture and provide a unique, personalised experience to every customer, on every single occasion. Because we know that our technology is about people and the way people work, live and interact. And we realise that the impact of these interactions can make a huge difference to people, as well as their families, workmates and the organizations they work for.

Service Management is about people: our customers, our employees, our Service Desk teams. Technology and processes are just the vehicle we use to empower our people to build and maintain services that will make an impact to both customers and the Service Management professionals. We believe in people’s ability to change things and make a positive impact, when they are inspired and enabled to do so. And we know that this impact will make all the difference to organizations and their business success, and -more importantly- to people themselves.